US EditionSpotify Flags Price Rises as It Introduces New Services, FT Reports
Spotify plans to enhance its services and target 1 billion users while increasing premium subscription prices to improve profit margins starting September.
- On Aug 24, the Financial Times reported Spotify will raise prices as it invests in new services and features, with monthly premium prices increasing in some markets starting September.
- After years of prioritising subscriber growth, Spotify combined price increases with cost-cutting to achieve its first annual profit last year while balancing growth and profitability, Financial Times reported.
- The company said the premium price will increase to $18 in several regions, including South Asia, the Middle East, Africa, Europe, Latin America and the Asia‑Pacific region, though Reuters could not immediately verify the Financial Times report.
- Earlier this month, investors pushed Spotify shares up nearly 10% after the price news, despite the company swinging to a net loss in the second quarter.
- Looking further ahead, management said the expansion runway remains large, with Alex Norström noting over 3% of the world’s population pay Spotify and predicting one billion users as a realistic goal.
45 Articles
45 Articles
The music streaming giant is preparing new subscription increases to finance its innovations. Spotify, which now targets the billion users, is taking on this strategy. ...
Spotify To Hike Prices, Add Features For Subscribers' 'Stickiness'—Aims For 1 Billion Users - Spotify Technology (NYSE:SPOT)
Spotify Technology SA (NYSE:SPOT) has hinted at increasing its prices as it focuses on expanding its user base and introducing new features. Spotify Growth Push Backed By "Stickiness,” New Services Besides Price Hikes Alex Norström, the co-president and chief business officer at Spotify, revealed the company’s plans for price hikes in an interview with the Financial Times. This strategy is part of the company’s “efforts toolbox” to boost profita…
(Seoul = Yonhap News) Reporter Moon Gwan-hyun = Spotify, a music streaming platform used by approximately 700 million people worldwide, has announced an additional fee increase.
Spotify flags price rises as it introduces new services
Spotify will raise prices as it invests in new features and targets 1 billion users, the Financial Times reported over the weekend, citing the music streaming provider's co-president and chief business officer Alex Norstrom.
Spotify will raise prices as music giant introduces new features, eyes 1 billion users: report
Spotify will raise prices as it invests in new features and targets 1 billion users, the Financial Times reported on Sunday, citing the music streaming provider's Co-President and Chief Business Officer Alex Norstrom.
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